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Tag Archives: Fannie Mae

Leery Lenders Delay Housing Recovery

Wary of an uncertain economic climate, new regulatory legislation, and the potential for burdensome capital restrictions, the nation's top lenders financed fewer mortgage loans in 2010 than in 2009 to keep their ledgers in the black a cumulative pattern that analysts and news reports say hampers housing and, potentially, recovery in the broader economy. According to analysis conducted by The Wall Street Journal, the 10 largest mortgage lenders in the country denied 26.8 percent of loan applications last year, up from 23.5 percent in 2009.

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Kinecta Offers Servicers Enhanced Mortgages

Kinecta Federal Credit Union released a statement Tuesday announcing that it will repackage HomePath mortgages from Fannie Mae with new incentives and financing terms, with additional incentives offered by the GSE that include revised closing costs and a selling bonus for agents.

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Assured Guaranty Sues Flagstar for $82M

Flagstar Bancorp found itself pitted against bond insurer Assured Guaranty on Monday as the latter sought $82.4 million in damages against it on charges that the Midwestern bank breached the warranties on its home equity loans, according to court documents.

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FHFA: House Prices Up in April

On Tuesday the Federal Housing Finance Agency reported a slight 0.8 percent rise in home prices from March to April, representing a positive note in a brittle housing market.

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FHFA: GSEs Cut Into Jumbo Mortgage Market

The Federal Housing Finance Agency released research on this week indicating a greater-than-expected drive to high conforming jumbo mortgages (HCJMs) by Fannie Mae and Freddie Mac, raising questions about the long-term impact their buying spree may have on private markets. According to the research, the government-sponsored enterprises walked away this year with approximately 55 percent of HCJMs in 10 of the nation's high-cost counties, a number totaling approximately 50,000 mortgages worth over $30 billion.

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